“We were looking for a seasoned creative director that came from design rooted in making fine products in accessories and ready-to-wear—and someone who was highly collaborative and understands our DNA,” Coach’s newly appointed CEO Victor Luis told WWD, about Vevers. “You can have a $5,000, $2,000, $3,000 Coach bag in the future,” Luis also said, clearly indicating that the brand is looking to move away from its mass-market appeal and start competing with brands known for leather It-bags like Proenza Schouler, Célineand Mulberry (where Vevers spent three years.)

Since the beginning of 2013, Coach has worked to reposition itself as a higher-end lifestyle brand, including working on collaborations with designers like Anna Sui, and while the label spans a range of prices (starting at the very-accessible end of the spectrum), a quick search revealed that the most expensive bag on its site right now is the Madison Caroline Dowel satchel, which does clock in at the It-bag price of $1,200.